Rooster100

R100 Wave Volume v2 (*v*)

This indicator is similar to the Weis Wave Volume indicator in that it shows cumulative volume for each up and down price wave. However it is calculated differently, using the Jurik moving average to determine turning points. Use this in conjunction with the R100 Wave indicator to determine the best fit Jurik length and power settings.

A great indicator to help analyse the strength of pullbacks, continuation moves and changes in behaviour.

I hope you get some value out of it. Only conditions of use are that if you improve it, let me know and if you publish something that uses it, don't hide the code! Enjoy!

Code pinched and modified from Zero Lag ZigZag by Duyck - thankyou
Jurik Moving Average (for turning points) by Everget - thankyou
and Weis Wave by Modhelius - thankyou
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Is it possible to use this for live trading or only to look back on the Market? The backtesting looks unreal. Does it redraw?
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Hi @xyse, not sure what sort of back-testing you've done but on its own this is not meant to be a buy/sell trigger- no better than the Jurik MA that the turning points for this indicator are based on anyway. It's value lies in identifying changes in trading behaviour and applies to any timeframe and live trading. There is no re-painting once a turning point has been identified, but the last leg or bar will move about/change colour until the next turning point is established.
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